NOV (NYSE:NOV) Announces Earnings Results, Beats Expectations By $0.03 EPS

NOV (NYSE:NOV - Get Free Report) released its earnings results on Thursday. The oil and gas exploration company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03, Briefing.com reports. NOV had a return on equity of 10.79% and a net margin of 11.57%. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The business's quarterly revenue was up 9.8% compared to the same quarter last year.

NOV Price Performance

Shares of NOV traded down $0.08 during trading hours on Friday, hitting $18.87. 8,698,719 shares of the company were exchanged, compared to its average volume of 4,355,582. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 7.52, a P/E/G ratio of 0.82 and a beta of 1.74. NOV has a fifty-two week low of $14.05 and a fifty-two week high of $21.91. The company has a quick ratio of 1.51, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The firm's fifty day moving average is $18.60 and its 200 day moving average is $19.16.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV's dividend payout ratio (DPR) is currently 7.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $24.00 price objective on shares of NOV in a research note on Tuesday, February 6th. Susquehanna reiterated a "positive" rating and set a $26.00 price objective on shares of NOV in a research note on Monday, April 8th. Piper Sandler dropped their price objective on NOV from $25.00 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 20th. Raymond James dropped their price objective on NOV from $28.00 to $25.00 and set an "outperform" rating on the stock in a research note on Monday, February 5th. Finally, Stifel Nicolaus dropped their price target on NOV from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, NOV presently has an average rating of "Hold" and a consensus price target of $24.36.

Insider Transactions at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the sale, the chief accounting officer now directly owns 114,212 shares of the company's stock, valued at approximately $1,990,715.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.85% of the stock is currently owned by insiders.

NOV Company Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.